EmailToday's session was relatively quiet as the major averages followed an upbeat open with a climb to their respective highs. At noon, House Speaker John Boehner said he remains hopeful a budget deal will be reached, but first, Democrats and the President need to outline specific spending cuts. The comments had little effect on the markets as equities saw muted reaction, and continued holding at their best levels. However, 90 minutes before the close, Senate Majority Leader Harry Reid said Democrats do not plan to propose spending cuts, and that reaching a consensus before Christmas would be difficult. In response to Senator Reid's comments, the S&P 500 slipped from its highs, trimming its gain to 0.7%.
Today after the close the following companies are scheduled to report earnings: CENT
Futures are higher after hours: S&P 500 futures are +5.37 from fair value of 1426.93 and Nasdaq100 futures are +7.69 from fair value of 2680.31.
Tomorrow morning before the open two economic report is scheduled to be released: 1) MBA Mortgage Index, and 2) Export Prices ex-ag. and Import Prices ex-oil.
Tomorrow before the open the following companies are scheduled to report earnings: COST, JOY
